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Kraay, Aart - 2000

It is well known that business cycles in OECD countries exhibit a remarkable degree of synchronization. Much less known is that the peak of the OECD cycle is associated with high prices of labour-intensive products and low prices of capital-intensive ones. We document this cyclical behavior of...

Persistent link: https://www.econbiz.de/10012470962

Alternative Strategies for Aggregating Prices in the CPI

Shapiro, Matthew D. - 1997

The Consumer Price Index does not take into account the fact that consumers alter the composition of their purchases in response to changes in relative prices. This substitution effect will cause the CPI to grow faster than the cost of living. This paper presents new estimates showing that this...

Persistent link: https://www.econbiz.de/10012472841

Real Exchange Rates and Relative Prices : An Empirical Investigation

Engel, Charles - 1992

This paper uncovers a striking empirical regularity: the consumer price of a good relative to a different good within a country tends to be much less variable than the price of that good relative to a similar good in another country. This fact seems to hold for all goods except very simple,...

Persistent link: https://www.econbiz.de/10012474732

Openness, Relative Prices and Macro Policies

Aizenman, Joshua - 1983

This paper analyzes the role of relative prices in the conduct of wage indexation and monetary policy in a small economy producing traded and non-traded goods under a flexible exchange rate regime. It is shown that the beneficial effect of using relative prices in addition to aggregate prices as...

Persistent link: https://www.econbiz.de/10012477864

Inflexible Relative Prices and Price Level Inertia

Blanchard, Olivier J. - 1983

A decrease in aggregate demand at given prices and wages decreases output and employment. The decrease in employment exerts downward pressure on real wages. The decrease in production exerts downward pressure on markups. With perfectly synchronized price and wage decisions, nominal wages and...

Persistent link: https://www.econbiz.de/10012477954

Estimated Effects of Relative Prices on Trade Shares

Fair, Ray C. - 1981

Estimated effects of relative prices on trade shares are presented in this paper for 64 countries. The equations are estimated using pooled time series, cross section data under the assumption that the error term is serially correlated across time and heteroskedastic across countries. The...

Persistent link: https://www.econbiz.de/10012478422

Real Exchange Rate Movements and the Relative Price of Non-traded Goods

Betts, Caroline M. - 2008

We study the quarterly bilateral real exchange rate and the relative price of non-traded to traded goods for 1225 country pairs over 1980-2005. We show that the two variables are positively correlated, but that movements in the relative price measure are smaller than those in the real exchange...

Persistent link: https://www.econbiz.de/10012464210

Relative Prices and Relative Prosperity

Hsieh, Chang-Tai - 2003

savings rates or to high tax or tariff rates on investment. Poor countries instead appear to be plagued by low efficiency in …

Persistent link: https://www.econbiz.de/10012468997

Relative Price Dispersion : Evidence and Theory

Kaplan, Greg - 2016

items from different stores. We calibrate our theory and show that it is not only consistent with the extent and sources of …

Persistent link: https://www.econbiz.de/10012456741

A Framework to Compare Environmental Policies

Fullerton, Don - 2001

This paper builds a single model that can be used to show efficiency and distributional effects of eight different … approaches can be designed to have the same efficiency effects, even while they have different distributional effects. For … efficiency, enforcement capabilities, and political feasibility). The paper ends with a discussion of likely trade-offs among …

Persistent link: https://www.econbiz.de/10012470299

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